Introduction to Rental Properties

Overview

Rental income is any payment received for the use or occupation of real property. Real property includes houses, apartments, condominiums, mobile homes, boats, vacation homes, or similar properties. This course discusses the reporting of rental income and expenses on Form 1040 Schedule E, and the rules that apply in various rental property scenarios.

Find this course for your license

License or Certification

Regulator

Objectives

identify transactions that are considered rental real estate income to the property owner
identify transactions that are considered deductible rental real estate expenses, differentiating between repairs and improvements
given a list of receipts and expenses related to a rental property, determine the owner's basis in the property;
identify the criteria that determine whether a taxpayer's rental activity income and losses are classified as passive or nonpassive
identify the methods used to calculate rental income and expenses for properties that are used for part personal, part business use during a tax year

Tax Year: 2023

Designed For:

CPAs, Enrolled Agents, tax professionals, accountants, and other financial professionals

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Course Information

Adding additional credit may change exam requirements.

Advanced Preparation:

None

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